Vietnam Today

Agriculture imports rise sharply

Released at: 07:02, 11/06/2015

Sector presented with a range of problems from rising imports.

by Tue Lam

While exports of agricultural, forestry and fishery products in the first five months fell 7.3 per cent compared with the same period of 2014, import turnover of these products rose sharply, by 8.1 per cent.

The higher imports have presented difficulties in the sale of agriculture products, with profits among enterprises on the decline.

According to the Ministry of Agriculture and Rural Development (MARD), the value of agricultural imports in the period is estimated at $9.25 billion, up 8.1 per cent. Imports of wood materials recorded the highest value, followed by fertilizer, raw seafood, cashew nuts, and pesticides.

Notably, many agricultural products are in oversupply but imports rose sharply, especially rubber. The volume of imported rubber in May reached 39,000 tons worth $65 million, bringing the volume in the first five months to 160,000 tons worth $273 million, up 29.6 per cent and 9.8 per cent, respectively, year-on-year.

Rising imports have resulted in the trade surplus of the agricultural sector falling significantly. Its exports stood at just $2.15 billion from January to May, a 15 per cent fall year-on-year.